Global Parking Management Market 2024-2028
The parking management market is forecasted to grow by USD 3.38 bn during 2023-2028, accelerating at a CAGR of 11.52% during the forecast period. The report on the parking management market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing need for convenient and assured parking, the increasing number of vehicles on the road, and the growth in smart parking deployment projects.
Technavio's parking management market is segmented as below:
By Component
By Deployment
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the deployment of LPWAN technologies in parking management as one of the prime reasons driving the parking management market growth during the next few years. Also, the introduction of automatic valet parking and the introduction of innovative products and services will lead to sizable demand in the market.
The report on the parking management market covers the following areas:
- Parking management market sizing
- Parking management market forecast
- Parking management market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading parking management market vendors that include ABM Industries Inc., Alf Mizzi and Sons Ltd., Amano Corp., APCOA PARKING Holdings GmbH, Chetu Inc., Cisco Systems Inc., Conduent Inc., Hangzhou Hikvision Digital Technology Co. Ltd., INRIX Inc., IPS Group Inc., Kapsch TrafficCom AG, Kudelski SA, Nimble Planet Ltd., ParknSecure Pvt. Ltd., Passport Labs Inc, Robert Bosch GmbH, SAS Institute Inc., Siemens AG, SWARCO AG, and T2 Systems. Also, the parking management market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.